Cash Price of Primary Copper Improves 1.6%

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Metal Prices, Premium

At $7,490 per metric ton, the copper cash price moved up 1.6 percent on April 9, 2013, making it the day’s biggest mover on the LME. Also on the LME, the 3-month price of copper gained 0.6 percent to finish at $7,457 per metric ton.

After a 0.8 percent increase, the price of US copper producer grade 122 finished the day at $4.00 per pound. The price of US copper producer grade 110 rose 0.8 percent to $4.00 per pound. At $4.19, the price of US copper producer grade 102 finished the market day up 0.7 percent per pound. For the fifth consecutive day, the cash price of primary Japanese copper held flat at JPY 640,000 ($6,444) per metric ton.

Chinese copper closed mixed on Tuesday. Chinese copper wire saw its price rise 1.1 percent to CNY 55,300 ($8,911) per metric ton. After a 1.0 percent increase, Chinese copper bar finished the day at CNY 56,150 ($9,048) per metric ton. The Chinese copper cash price rose 0.9 percent to CNY 56,350 ($9,080) per metric ton. The price of Chinese bright copper scrap remained essentially flat at CNY 47,460 ($7,648) per metric ton.